Orascom moves to increase direct ownership in Wind Canada

CAIRO - Egyptian telecommunications company Orascom Telecom Holding says its proposing to increase its voting stake in carrier Wind Mobile following changes which have eased Canada’s foreign investment rules. This past March Industry Minister Christian Paradis said Ottawa would lift restrictions on foreign investment in firms with less than 10% of market share by revenue. Under the plan to be voted on next month by shareholders, Orascom would align its voting shares with its ownership stake by increase its voting shares to 65.08 per cent from 32.02 per cent. The move is "purely an internal restructuring effected to simplify Wind...